As of December 27, 2017, Coinbase has implemented a new policy of sending all web traffic from its website to exchanges that support the Depository Trust & Clearing Corporation (DTCC). This is in response to the massive increase in trading volume and new users following the launch of Bitcoin futures on the Chicago Board Options Exchange (CBOE).
The DTCC is a US-based financial institution that provides clearing and settlement services for a variety of securities. It is also responsible for the custody of many assets, including stocks and bonds.
Coinbase has chosen to route its web traffic through DTCC-supported exchanges in order to provide its users with a more reliable and secure experience.
Coinbase is not the only exchange to make this change. Other major exchanges, such as Gemini and Kraken, have also begun routing their web traffic through DTCC-supported exchanges.
This is likely in response to the increased demand for Bitcoin futures contracts.
The CBOE launched Bitcoin futures on December 10, 2017. The launch was highly anticipated and caused a surge in trading volume and new users signing up for exchanges.
Many exchanges were not prepared for the influx of traffic and experienced outages and delays.
By routing its web traffic through DTCC-supported exchanges, Coinbase is ensuring that its users will have a more reliable and secure experience when trading Bitcoin futures. This is likely to be a temporary measure until the demand for Bitcoin futures subsides.
In the meantime, it is a good move by Coinbase to improve the experience of its users.